insurance on LS1's

[big_kev's_ss]

Ok guys, just another quick question, i have got my ss on a lease, and they have organised insurance, i was just wondering how all you guys go with insurance and your mods, only small stuff, IE, exhaust, lowereed, Edit, CAI, etc, do you tell them or not, and have you had experience with lease cars and modifications. what are the implications with that.

[vy clubbie]

I have notified my insurance company that I plan to lower my vehicle and change the exhaust next week and they updated there files over the phone, and said no problem at all, and there are no penalties or premium adjustments as i'm over 30. so I'm pretty happy with that, and the car is leased.

Mark

[markone2]

Hello Big kev...here is some reading matter that should answer
( or not) your questions:thumbsup: http://www.ls1.com.au/forum/showthread.php?s=&threadid=18602&highlight=Edit+insurance

[Capt Hollywood]

I wish I was as lucky as VY Clubbie. I fitted a new exhaust and lowered my VU SS ute and the premiums jumped around $400! I am now paying around $1700 a year for comprehensive insurance through TIO (Territory Insurance Office) OUCH! :bawl:

I was told that if you lower or raise your vehicle more than 25mm you fall into another category that raises your premiums. I rang 14 other insurance companies and most would not touch me, the ones that offered me insurance had premiums over $2000!

Maybe it's due to the open speeds available on the roads up here as I'm 30 now so age shouldn't hurt my premiums too much.

Anyone have any insurance companies that they could recommend?

Cheers,

Hollywood :cool:

[vk8zlx]

I must be a lucky soul, the RAA here in Adelaide set the premium at $600 for my VY SS ute. (I am 40yo)

I asked 3 times and they always said, "Its just a ute" so I did not argue, the policy says VY SS ute, 5.7L 6 speed manual.

Asked about modifications, they were not fussed about exhaust or small changes in ride height BUT wanted to know about any stereo extra's or spot lights :-)

No special excess payments, every one else wanted over $1,300 to insure it.

Peter

[Rate]

Originally posted by markone2
Hello Big kev...here is some reading matter that should answer
( or not) your questions:thumbsup: http://www.ls1.com.au/forum/showthread.php?s=&threadid=18602&highlight=Edit+insurance
Unfortunately he won't be able to see that thread because he's not a validated user.:(

[Dane]

With any insurance contract taken, its well worth the time to read the policy and fully understand what is 'accepted' and what is 'not covered'.

Any change to a vehicle has the potential to void or reduce the insurance coverage you have. Its always best to enquire prior to the modification, and to possiably explain the actual benefit of that modification.

IE: Custom tune to the PCM by LS1 Edit. Could also explain the estimate increase to flywheel pwr will be 70-90Kw's. :thumbsup:

If in doubt; check in detail with ya current insurer, the possiablities of claim decline is real. Some will argue it is a risk taking that save's a heap of insurance premium, but this opens the risk up of a loss at your expence.

Some companies that insure a modified vehicle:

VIGIL
Shannons
Just Cars
Young & Cool
Heath Lambert Group

Each will have different underwriting guidleines, some will be able to help and other may be not. Driver history / claims history / location / use & security all play a part in a quote is achievable and affordable. :D

:cheers:

[VYCLUB]

I'm insured with the RACV costs me $900 for my VY Clubsport. They will let me modify the exhaust and I can lower it 32mm, It's been lowered 20mm so I'm safe.

[5.7 Berlina]

A story on Today Tonight gave competetive prices from a company called "Budget Direct" who are in all states but NT.

Budget Direct (www.budgetdirect.com.au)

:thumbsup:

[VYCLUB]

Budget Direct laughed at me when I said HSV, like most other insurance companies.:lol:

[vy clubbie]

My insurance company is AAMI and the premium is $1700 but as i said eilier no problems with modifications.


Mark

[joeboss]

you guys should hear this one
in sydney my ute was 3600 a year
and when i moved to surfers it dropped to
1600 a year
2000 difference

[Timson]

I have full comprehensive insurance for my VY SV8 through RACV in country Victoria and it only costs me $580 per year.
In regards to modifications I am allowed up to 3 before they will deny me insurance. These are only minor modifications, like exhaust, lowering, wheels, stereo and the like. I asked about edit and the lady at the counter had no idea of what I was talking about before saying that would be okay. I think I will look into that furter before just doing it. By the way the same lady told me they would not insure car that had forced induction in any way, unless it was equipped with it from the factory.........Seems a little wrong to me:(
The major problem with insurance companys now is that they can and will void an insurance policy if anything is not right, say a mod that was put on the car and they weren't notified about.
It's getting to the stage that some insurace companies are employing investgators with mechanical and engineering experience specifically to find what modifications have been done to the car.
One example of this was an insurance denying a claim because the front intrusion bar had been cut to fit an aftermarket intercooler on an S15 Silvia, the insurace company saying that the car was no longer roadworthy because the modifcation needed to be engineered to ensure that the stuctural integrity of the car remained. It also may have affected air bag employment further increasing the risk of the driver being injured..........they may have a point with that one.
Read your contract, understand your contract. Both parties are obliged to honour the conract, it is legally binding by the way.
If you satisfy the contract requirements, then you should not be denied insurance if you have an accident, it should be that simple.

Tim.

[Dane]

Originally posted by 5.7 Berlina
A story on Today Tonight gave competetive prices from a company called "Budget Direct" who are in all states but NT.

Budget Direct (www.budgetdirect.com.au)

:thumbsup:


...Cheap Insurance. :lol:

...Cheap coverage, plus a few additional excess. :rolleyes:

:cheers:

[KeenGolfer]

I'm with AAMI, $930 a year. I tried their online quote form, and they have an option for "non-standard turbo" which didn't increase the price 1 cent!! I'm hoping it will be the same with a blower, which is esentially the same thing.

[zackde]

I have my VT2 SS with CGU i have pacies 4 to 1, exhaust and i found there premium to be exellent $748 can pay by the month at no extra charge. It is insured for drivers over 30 only tho....

[Capt Hollywood]

The only mod that made any difference to my premium was the lowering. I told them about the exhaust, stereo and everything else from the dash mats to the hardtop. None of it made a difference to the premium, but on informing them that I had lowered it more than 25mm they said, "That'll be $1700 a year please!"

Oh yeah, thats with a 4 year no claim bonus too!

Cheers,

Hollywood. :cool:

[VU SS ute]

Ahhhh the dreaded insurance, I had a hell of a time insuring my VUII SS Ute. more than 1/2 said they don't insure any SS models at all. One told me the car wasn't modified enough(Still can't believe it, I asked her 3 times to be sure) I ended up getting insurance with Suncorp, they were $600 cheaper than my other closest quote and of course over $1,000 cheaper than the NRMA quote. When I got the car lowered I phoned them and they said no worries, no change to premiums, and they didn't even ask me by how much it was lowered, I liked that :)

[KeenGolfer]

Rang AAMI today as I'm getting a blower, won't cover me. Stupid thing is they will cover a non-factory turbo but not a blower! ("I know it's essentially the same sir, but it's not on our list so we can't insure you")

Tried Suncorp at VU SS ute's suggestion, and they will cover a blower + modified engine for $1500pa which isn't too bad. It seems you can have pretty much unlimited mods with Suncorp, but with AAMI/NRMA etc you are only allowed 3 modifications.

[Monster]

I have just changed to suncorp from aami after passing their 3 mod limit ,payed $980 full comprehensive up from $550 with aami also the excess went up a bit too, but now i know i'm fully coverd and able to make other changes to (they work it out on a points scale) more mods means more money, i don't know what their limit is but it's more than aami .
btw justcar quoted $1300 with the same excess as suncorp!..........

[dark]

The VX R8, CGU wanted $2635, AAMI $1740 and the RACV $1200. Quite a number refused to insure it without Satellite Navagation protection on it. Am over 35 Rating 1.

[Devil CV8]

I'm on 60% NCB with NRMA paying $880 a year. Paying monthly so that makes it more expensive.....
What was weird tho, I had 40% NCB and by cancelling that policy with NRMA and taking out a new one, I jumped to 60%...

[big_kev's_ss]

Yeah, well i am with sgio, and i read through the policy, and it does not mention anything about any mods at all, i might give them a ring and find out.

[Rorym]

New SV8, country Qld NRMA $700
R

[BIG T]

I pay $1,600.00 with NRMA, 60%NCB and 20% staff discount. In a few weeks I will be 25, but when I insured it last December I was obviously 24. No other insurance company would insure me. I geuss the combination of a young driver in a V8 living in Sydney deters most big insurance companies from offering you a premium. Iam hoping it will be a lot cheaper this year.

[Febs]

$1,581 for my Calais with JustCar (20 yo). NRMA wanted $3,600. Shannons wanted $4,600. The policy allows unlimited mods...not sure how much the premiums will rise though (if at all). I'll find out after my warranty runs out.


Cheers,
- Febs.

[Gareth@Willall]

$1051 per year. No extra to pay per the month. 24 years of age, rating 1 and no limit to the age of any driver.
Covers the car (duh :D ) 4 - 1 exhaust, trans work, diff, cam and other engine bits. This is with a staff discount. Just cars and Shannons wanted $2500+. And apparantley if its legal they will cover it as long as I tell them.

Gareth

[BLACK 346]

$1051 per year. No extra to pay per the month. 24 years of age, rating 1 and no limit to the age of any driver.
Covers the car (duh :D ) 4 - 1 exhaust, trans work, diff, cam and other engine bits. This is with a staff discount. Just cars and Shannons wanted $2500+. And apparantley if its legal they will cover it as long as I tell them.

Gareth

Do we have to guess who the insurer is :)

[VooDoo]

im now with Shannons. AAMI were $580yr for 40k coverage, 3 mods.

now $1170yr, unlimited mods inc twin turbos or supercharger. i pick the repairer

Dane was great with his assistance with shannons

[Gareth@Willall]

Do we have to guess who the insurer is :)

Opps.... Elders

[Roger]

$1,581 for my Calais with JustCar (20 yo)...... The policy allows unlimited mods...not sure how much the premiums will rise though (if at all)...........

Febs, that would be the only insurance policy in the known universe to have a clause like that in it...

:cool:

[Gareth@Willall]

Febs, that would be the only insurance policy in the known universe to have a clause like that in it...

:cool:

Been there done that with just cars. As soon as you add or change something they still cover you but it cost more. So in reality your $1581 policy wont cover 'unlimited' mods :(

[LSX-438]

with this many members maybe its time we had our own insurance pool

[mickeyVX350]

Rang AAMI today as I'm getting a blower, won't cover me. Stupid thing is they will cover a non-factory turbo but not a blower! ("I know it's essentially the same sir, but it's not on our list so we can't insure you")

Tried Suncorp at VU SS ute's suggestion, and they will cover a blower + modified engine for $1500pa which isn't too bad. It seems you can have pretty much unlimited mods with Suncorp, but with AAMI/NRMA etc you are only allowed 3 modifications.

I am with AAMI now for my Monaro... I used the online quote system and came up with $619... I am just 25 and thought... bonza! I bought the car rang AAMI and they said... noooo sir not that car. I informed them about the online quote system for which she replied "yes sir, but that is only a quote, once you ring through we have the right to decline" Once I informed her that if she read AAMI's terms and conditions, and checked the site, she would notice that
a:- The T&C's state that the document is binding
b:- That I could simply click the link that is provided to pay the quoted price with my Credit card and thurn the quote into a policy!

Well then she got onto the legal department and came back to tell me that yes I WAS RIGHT and they had to offer me insurance... not just that, I got a rating one for life!!!

YOur failing may be the legal description for "non-factory turbo"

Phew... Good to see thos asprations of being a lawyer (and the few classes) actually paid off!

Cheers,

Mick

[LSX-438]

I am with AAMI now for my Monaro... I used the online quote system and came up with $619... I am just 25 and thought... bonza! I bought the car rang AAMI and they said... noooo sir not that car. I informed them about the online quote system for which she replied "yes sir, but that is only a quote, once you ring through we have the right to decline" Once I informed her that if she read AAMI's terms and conditions, and checked the site, she would notice that
a:- The T&C's state that the document is binding
b:- That I could simply click the link that is provided to pay the quoted price with my Credit card and thurn the quote into a policy!

Well then she got onto the legal department and came back to tell me that yes I WAS RIGHT and they had to offer me insurance... not just that, I got a rating one for life!!!

YOur failing may be the legal description for "non-factory turbo"

Phew... Good to see thos asprations of being a lawyer (and the few classes) actually paid off!

Cheers,

Mick

this just demonstrates how patchy their process is. hope your increase next year isnt too great.......

[Febs]

Febs, that would be the only insurance policy in the known universe to have a clause like that in it...

???
JCI's policy is to cover unlimited (legal) modifications, but you pay for it (depending on how extreme the mods are).

How is it the only one like that? All JCI policies are the same, AFAIK. I did say "not sure how much my premiums will rise".

I know a guy with a pretty modified Swift (1.3l GTi engine) and he's paying something like $30 more/year more to cover his mods.

</ a bit confused...>

[mickeyVX350]

this just demonstrates how patchy their process is. hope your increase next year isnt too great.......

Shouldn't matter!!! I have saved heaps this year, and once the Mrs hits 25 it should be a lot easier.

7-800 dollars is no laughing matter (except at the insurance companies expense!)

[LSX-438]

true it's a big saving, report back next year....

[Rorym]

Did some looking today.
Budget was $819
RACQ was $772
NRMA was $727 with $57 for a rentacar, I ditched that as we have 5 cars and they came in at $670.They got the business.
Country QLD, new SV8
Rory

[MTC]

im pretty lucky my insurance cost $320 with RACV on my 2004 HSV VYII clubsport. yes i did say $320!!!! thats comphrehensive rating 1 (premier 1) im 30 bargain!!!! :lol:

[Rorym]

With $20,000 excess?...Lol!
R

[MTC]

excess is $450 :bash:

[RARASV8]

:confused: for my SV8 is $767.29 with a DISCOUNT of $1177.66 for being a rating 1. :bash:

[SV99]

:bash: Insurance Sucks, Isint it discrimination to charge people a certain age group more than others. im wondering why no one has taken this on.


Something needs to be done. :booty:

[mrturkey]

Insurance on my VY SS A4 is $900 with RACV.
Rating 1
28 y/o
Taylors Lakes area in Melbourne

[spaceman347]

full cover for my VXII Clubby - $1700 (ish) AAMI, located in ACT. NRMA had quoted around $1300, but then wanted to know whether I'd lost my license in the last 5 years, AAMI only wanted to know about the last 3 years (I had lost my license 4 years prior).
AAMI started out by insisting that the vehicle have tracking system installed but when I sat on the end of the phone and played dumb for a while the girl went to check with her supervisor and came back and said that I didn't need a tracking system after all.
I had rung NRMA 3 times over a period of a month to double check the figures and got a different price each time - go figure!

[BLACK 346]

full cover for my VXII Clubby - $1700 (ish) AAMI, located in ACT. NRMA had quoted around $1300, but then wanted to know whether I'd lost my license in the last 5 years, AAMI only wanted to know about the last 3 years (I had lost my license 4 years prior).
AAMI started out by insisting that the vehicle have tracking system installed but when I sat on the end of the phone and played dumb for a while the girl went to check with her supervisor and came back and said that I didn't need a tracking system after all.
I had rung NRMA 3 times over a period of a month to double check the figures and got a different price each time - go figure!

Go work that out, I went through the whole quote
with AAMI only to be told I need quiktrak or no they
can't insure me. She even confirmed with her supervisor.
That was for insurance in NT. You would think your
Clubby would be higher risk than my SS :confused:

[Wazz_ChevLS1]

Just got my SV8 done through Shannons for $1089 with all mods included which is only a little better than the $1166 that I would have gotten if I re-newed it with Just Cars. Agreed price with Shannons $40,000 :thumbsup: agreed price with Just Cars $35,200. :(

The excess with Shannons is $400 but with Just Cars it was going to be $800 .................. so Shannons get my bussiness.

Also with Just Cars you have to pay the full fee up front and with Shannons you can either pay monthly, quarterly, half yearly or annually. :deal:

Oh yeh ........ I'm over 30 with a rating 1

[markone2]

Insurance SV8 with Mods $536 :confused: A $34.00 increase from last year
Rating One
Old fart
Sunny Brisbane

[kaniSS-81]

Hey guys, Im 23 and about to get a SS VX, and Im in Sydney....
My old mans Audi costs him $1800 a year with me in the policy as an occasional driver.....

I was wondering if the Sydney guys here could tell me how much I am looking at for the SS? higher then the Audi or lower? I cant wait till monday to call them and ask around :D

[matt.vzss]

Im insured with RACV in country vic costs me $951 for a vz ss ute because im only 23. If i was over 25 it would drop to around $550 which is a huge drop for only 2 yrs difference.

[Drewie]

Im insured with RACV in country vic costs me $951 for a vz ss ute because im only 23. If i was over 25 it would drop to around $550 which is a huge drop for only 2 yrs difference.

It obviously depends where you live, I live in the Eastern Subs of Melbourne,
I have been with RACV for 20 odd years and have loyalty discounts, multpy
policy discounts as I have house and contents with them, rating 1 over 50
and my VX SS is still something like around $700, might shop around a bit next renewal though I think they were still the best price wise last time I checked.

[MTC]

It obviously depends where you live, I live in the Eastern Subs of Melbourne,
I have been with RACV for 20 odd years and have loyalty discounts, multpy
policy discounts as I have house and contents with them, rating 1 over 50
and my VX SS is still something like around $700, might shop around a bit next renewal though I think they were still the best price wise last time I checked.
Het Drewie & guys Im insured with RACV for my 04 VYII HSV CLUBBY. & I only pay about $345 yer year & yes im in a low risk area. South Eastern Suburb. I've been insured with them for nearly 13years (x RACV employee insured with them since 17) I own my car outright. private use. low risk suburb. my wife is 29 & im 30, multi policy discount, years of insurance discount, & premier rating 1 (rating one for life) So its not bad at all for me & on our 03 NISSAN PATROL ST turbo diesel we pay $320 per year same details as the clubby :D

[Cat755]

KANNIS81; If you can't wait till monday do a search and get an on line quote from the likes of NRMA at carpoint. I did a rough one for you using the details given in your post, using Sydney 2001 as your address, and it came back at $2952. This was with an insured value of $30000 and 65% no claim bonus.
MICKVY11CLUBBY; That's an exceptionally good price on your Clubby, I pay $930,am rating 1, live in country Qld and am 50 years young :)

[NefariousVX]

i pay just over $900 for my VXII SS, with just car, and yeah i just pay extra for mods as i do them, came in $700 cheaper than nrma, but hows this it was only an extra $200 above the 5.0L vn i had. go figure that???

[Delft Maloo]

i used to have a 94 vr berlina v6 with bodykit,and paid approx $1100. Brought a 2002 vx calais 5.7 and paid $1370 in dubbo nsw with nrma. now with racv and live in lower vic and only pay $617 full comp. my fiance is 23 and im 24 so i was exstactic about the saving. was told that dubbo had a higher risk rating than all of victoria, which does'nt suprise me.

[EL2]

Lumleys via the leasing mob, about $900 per year.

[doogal]

I had recent dramas with insurance for the maloo. was with wesfarmers and told em i planned on superchargind the ute and they said they wouldnt be ablt to insure me if i did so i rang aami and the girl did a quote for me with supercharger,bigger brakes,exhaust which came to $1071 and while i was in America i rang up with my quote number to get the thing insured before i got back to pick my car up and they gentleman says "oh u r under 30 we wont be able to insure u with the hsv" so i started to get a bit angry and he went to talk to his supervisers and finally came back to say that they would honour the quote as long as i am the only person under 30 to drive it which is fine :lol:
was stressing for a while there though.

[alexcs]

Hey guys, Im 23 and about to get a SS VX, and Im in Sydney....
My old mans Audi costs him $1800 a year with me in the policy as an occasional driver.....

I was wondering if the Sydney guys here could tell me how much I am looking at for the SS? higher then the Audi or lower? I cant wait till monday to call them and ask around :D

youre probably looking at 2500 odd if youre buying it cash, if its financed or under business use, expect to add 300-400 bucks more.

[xshore]

I am with AAMI now for my Monaro... I used the online quote system and came up with $619... I am just 25 and thought... bonza! I bought the car rang AAMI and they said... noooo sir not that car. I informed them about the online quote system for which she replied "yes sir, but that is only a quote, once you ring through we have the right to decline" Once I informed her that if she read AAMI's terms and conditions, and checked the site, she would notice that
a:- The T&C's state that the document is binding
b:- That I could simply click the link that is provided to pay the quoted price with my Credit card and thurn the quote into a policy!

Well then she got onto the legal department and came back to tell me that yes I WAS RIGHT and they had to offer me insurance... not just that, I got a rating one for life!!!

YOur failing may be the legal description for "non-factory turbo"

Phew... Good to see thos asprations of being a lawyer (and the few classes) actually paid off!

Cheers,

Mick

same thing happened with me pretty much, i was 25 (now 26). As soon as I told her to put her supervisor on I had called their bluff and they said 'sorry sir, it was a discrepency, we can insure you'. This is standard with AAMI and I have on my policy writen that they don't do that shit with me anymore cause I know its shit. Don't take that under 30 lie from them.
Inregards to another post,
As for telling insurance about an EDIT. why would you do that ? there's no way they could find out if it had been EDITED.

[jsttry]

same thing happened with me pretty much, i was 25 (now 26). As soon as I told her to put her supervisor on I had called their bluff and they said 'sorry sir, it was a discrepency, we can insure you'. This is standard with AAMI and I have on my policy writen that they don't do that shit with me anymore cause I know its shit. Don't take that under 30 lie from them.
Inregards to another post,
As for telling insurance about an EDIT. why would you do that ? there's no way they could find out if it had been EDITED.
You would tell your insurance company so come claim time they don't deny your claim for not disclosing all modifications and you find yourself $30-50k out of pocket. Why pay for insurance if you're not going to be insuring the right thing.

Don't kid yourself, if you hit a $300k car and write it off I'm sure they'll take an extra close look at your car to see if there is a reason to deny the claim.

[kaniSS-81]

youre probably looking at 2500 odd if youre buying it cash, if its financed or under business use, expect to add 300-400 bucks more.

Yeah I rang today to see how much and I was bloody shocked at the price, I think i might wait a little bit now :(

[xtremex]

Well after a good long time on the phone - here are my results
Im 23 , driving a stock 2001 VX Clubsport Manual with a Bad Previous driving Record, no claims on 6yrs of insurance.

Shannons - Need Motoring Background or proof of being in a club - NO

Just Car - Extra Premium for Mods, $1700 excess, $2400 excess for Stolen, Max amount insured $37,000 - $2659

Budget Direct - Car is unacceptable - NO

CGU - Wont allow many mods - NO

Insurers Hotline - Part of Budget Direct - NO

National Aus Bank - Too many Infringements - NO

Allianz - Car out of 30 day insurance bracket - NO

AAMI - No one under 30 insured for HSV - NO

Aussie Car Insurance - Not open Out of Hours - NO

ING - Managed by CGU - NO

Credit Union Aus - Managed by CGU - NO

Suncorp - Wont insure under 25 for Vehicle - NO

NRMA - $400 Excess, Under 25 Excess $400 - $1924.84

Young and Cool - Bad Driving History / No HSV - NO

Still a whole heap of others i am going to try so will update tomorrow night after i ring them. The battery ran out on the portable phone from holding so long.

[kaniSS-81]

Mate I got quoted $3400 from NRMA under my old mans name with me as an occasional second driver.... and that 3400 was without mods....

I just did one at Just car with mods, and under my name they quored me $2134 which is not to bad, CGU said 2800 without mods....


This is detering me from the VX SS im so pissed off about this :(

[matty s]

Excuse my ignorance but we are from w.a. we have no claim bonuses but we dont get rateings,wat are thay?

[MTC]

Excuse my ignorance but we are from w.a. we have no claim bonuses but we dont get rateings,wat are thay?
Mate Rating's & NCB are the same thing 60% NCB is a rating 1 or 0% NCB is a rating 6

[MTC]

Mate I got quoted $3400 from NRMA under my old mans name with me as an occasional second driver.... and that 3400 was without mods....

I just did one at Just car with mods, and under my name they quored me $2134 which is not to bad, CGU said 2800 without mods....

This is detering me from the VX SS im so pissed off about this :(
Kannis81 Who is going to have a financial interest in the vehicle? because that person will be the insured E.G You pay for it 100% & dad drives it sometimes. Well in that case, You would need to be the insured. But if you borrow some money from your Father or He give's you a gift of say $2000 towards the car then you both have a financial interest & it would be insured under both of your names. Another thing do you have a Girlfriend or sister who is slightly younger then yourself?? & they will also drive it? As that will also decrease the cost of insurance :) But remember with insurance always tell the truth & disclose any previous convictions, any mods, & all correct owners/drivers Because Insurance company's dont look for reasons to pay a claim. They look for reason's NOT to pay a claim ( I was in the insurance industry for 10years)

[Dane]

Inregards to another post,
As for telling insurance about an EDIT. why would you do that ? there's no way they could find out if it had been EDITED.

..... You would have signed a little document or agreed to a term called a 'Duty of Disclosure", this is why you declare an LS1 Edit as it is a modification to the manfactures specifications. :)

If ya think the insurance companies are unable to check this ..... Think again dude before a claim potentially is declined and ya left with a significant repair bill for your own payment, not the insurance company. :cool:

Thats the best bit of insurance companies, if a claim can be void through ligitimate causes such as undeclared mod's, or a claim payout is reduced to account for undeclared mod's, the insurance company is well and truely entitled to act this way and then ya have 'one very upset' client blaming the insurance company and everyone else when in actual fact through non- discloser they stuffed themself. :lol:

Cheers,

Dane

[alexcs]

how do you check for an edit only?

[Drewie]

how do you check for an edit only?

That's a very good question, would be interesting to know if they could pick it, but you would think the accessors would know that software upgrades exist and are becoming a more common type of modification not only with LS1's but with a variety of makes and would be looking at ways to detect it, I wonder if they would go to the trouble of asking the repairer to remove the PCM for testing if there was a lot of dollars involved in the claim, like if they were liable for big bucks in a multiple car accident.

[bigafoot]

I am with AAMI now for my Monaro... I used the online quote system and came up with $619... I am just 25 and thought... bonza! I bought the car rang AAMI and they said... noooo sir not that car. I informed them about the online quote system for which she replied "yes sir, but that is only a quote, once you ring through we have the right to decline" Once I informed her that if she read AAMI's terms and conditions, and checked the site, she would notice that
a:- The T&C's state that the document is binding
b:- That I could simply click the link that is provided to pay the quoted price with my Credit card and thurn the quote into a policy!

Well then she got onto the legal department and came back to tell me that yes I WAS RIGHT and they had to offer me insurance... not just that, I got a rating one for life!!!

YOur failing may be the legal description for "non-factory turbo"

Phew... Good to see thos asprations of being a lawyer (and the few classes) actually paid off!

Cheers,

Mick


Got in under the same loop hole for a 25 y/o only difference is no questions asked. Tell me have they put a condition on it that you are the only person under 30 y/o to drive the car ?? I mean this is not a problem for me as I am the only person under 30 to ever be driving the car.


By the was AAMI full comp. rating 1 for life exctractor s exhaust edit $291 p/a ... I could not be happier !!!

[Drewie]

I wonder as these LS1's get older and cheaper and they become more affordable to the younger generation of drivers and perhaps the claims start rolling in that the insurance on them will start to climb, I remember when I first got my VN SS the insurance on it was not too bad, after several years with no claims I started to notice the premiums starting to climb, I also started to notice a lot of young 'P' platers starting to drive them, including my son and a few of his mates, when I bought my VX SS the insurance was actually cheaper on that than the VN. So the premiums may rise on the LS1's as they become cheaper.

[Dane]

how do you check for an edit only?


You way up the math ...... $12k purchase for a porable Tech2 or the like, or continue to payout on "unchecked" PCM $40 - 60k claims x Multifactor. :)

If you were the insurance company covering say 200 LS1 at an avg value of $40k, all 200 LS1 declare no mod's. Now you the payee of claims need to look to ways to ensure ligit and legal claims are payed from your hip pocket. If you as the payee are aware to the LS1 industry and have clear knowledge (as an assor does) of PCM programs, do you think ya might want to check the claiments Vehicle PCM just in case ...... cause if the PCM is altered and is undeclared, you as the payee have the right to refuse the claim.

MMMMM ..... Now you can pay the $40k for that total loss, or advise the claiment 'sorry' but due to undeclared PCM modification the claim is declined (or reduced or limited in some form). :)

Just some thoughts .... :) Cheers Dane

[VTSS_WA]

I got my VT insured for $965 through RAC(WA)-under 25. I was told I get unlimited mods, as long as they are legal. I rang them today to notify them of a few changes, mainly the exahust and they gave me the "if it's legal, it's fine", which I am a little dubious of.

What exactly falls under "legal mods" these days anyway. I'd assume the RAC would have some guidlines regarding what is considered legal or not. Considering I don't have to notify them of anything, unless I start spending big dollars and want to increase my agreed value.

[plonkerchops]

I got my VT insured for $965 through RAC(WA)-under 25. I was told I get unlimited mods, as long as they are legal. I rang them today to notify them of a few changes, mainly the exahust and they gave me the "if it's legal, it's fine", which I am a little dubious of.

What exactly falls under "legal mods" these days anyway. I'd assume the RAC would have some guidlines regarding what is considered legal or not. Considering I don't have to notify them of anything, unless I start spending big dollars and want to increase my agreed value.


Im with the RAC too...and they said the same to me except they mentioned something about wanting proof like some sort of over the pits certificate (RWC?) from the Police

[SS_Fury]

Im with the RAC too. Im 25 and i think its coming in now you have to be over 26? dunno...i got the full no claim bonus (60%) and its costing my vx ss approx 780 a year which i cant complain about...i havent asked on mods yet..i only planned on a sweet exhaust an tincy lil edit i swear :D